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tv   Boom Bust  RT  September 30, 2017 3:29am-4:01am EDT

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even though president donald trump has talked of renominating federal reserve chair janet yellen to her post when her term expires at the beginning of next year he is meeting and interviewing others and one white house official who spoke to the media on the condition of anonymity and nobody reports that a former fed governor kevin wars is under consideration for the job according to the source the president met with war along with treasury secretary steve nugent now is seen as hawkish and less accommodating to quantitative easing and future interest rate hikes than yellen trump has said previously that he would consider renominating yellen but he also is looking at other candidates including kerry collins the head of trump's national economic council. and case capital is
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said to be shuttered chief whitney tilson says that high prices and complacency it's currently prevailing in the market and he does not want any part of it on sunday he wrote to clients historically i have invested in high quality safe stocks at good prices as well as lower quality ones of distressed prices however my favorite safe stocks like berkshire hathaway and monta lays don't feel cheap and my favorite cheap stocks like hertz and spirit airlines don't feel safe hence my decision to shut down other notable funds that have gone out of business this year including part capital management and passport capital tilson says investors capital will be returned to them at its peak case handled one hundred eighty million dollars. if the iraq. the data portfolio selling data to feed hedge fund computers is one of
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the hottest areas of finance computers trade completely on their own at funds large and small now it could put humans out of jobs but let's talk about the nature of this information how it's collected and used please welcome a room gone he's co-founder and c.e.o. of x. earned thank you so much for talking with me about this listen data is one of the hottest commodities in the world right now you and i both know this and quantitative hedge funds are eating it up primarily interested in this automated measurable data they're the biggest buyers of it what exactly are they looking to mine so it kind of varies pretty much what we're doing so a lot of quantitative trends are coming to us for news and blog but they want to apply different types of analytics on these types of news and blog to plug this into their automated strategies so they can build different types of models and then trade off of this so pretty much we're minding the entire internet so about
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three hundred million websites we're getting in real time every day including the entire twitter feed so every day we're processing about seven million articles one hundred fifty million tweets and we're using i'll go to figure out which of these tweets or these articles are actually relevant to a specific asset classes these quantitative hedge funds are trading and then we just see it in our analytics. models and then they're basically doing automated trading based off that just to generate more alpha ok so you throw in the algorithms you get the data how do you actually discern what's important because you're on a like you said millions and millions of these sites so how do you look at what's important what's not. yeah for a basic example so let's say there is an article on apple laying off a few different employees so we have a algos that's able to look at all of these types of articles and identify which companies are mentioned in these articles and does the article mention
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a financial type of event and so we filter the entire data for the specific financial related company related articles and then we started arriving different types of news analytics so these news analytics that we're derive they're pretty much helping these quantities hedge funds figure out which of these articles are actually actionable so for an article we're able to let them know is this article very positive or negative towards a company using semantic analysis and we're also able to lead know what's the potential impact an article could have on a certain company's stock price and there's a lot of different types of analytics we're able to derive from each article and they're using these types of analytics to make the most accurate trading decision without having any human intervention in the loop itself. ok well let's talk that makes sense let's talk about the alternative data like the payment bell or the purchasing of a book from amazon it's very valuable for these hedge funds take a look at the rate now that hedge funds over traditional asset managers favor
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spending big money on best type of information seventy four percent to the hedge funds to be forty percent of the actual asset managers if alternative data is so valuable why are asset managers not grabbing hold of this. so it's still very early so pretty much when we started. a lot of quantity of hedge funds weren't actually looking into alternative data about three years ago but now the space is starting to get very very hot and a lot of quanta the trends are always coming at us asking us for different types of data sets that we have and we're seeing in the industry it's a lot of players are actually creating their own alternative data so there is like satellite imagery data where they have satellites up in the air and they're counting the parking lot retail stores and trying to predict sales revenues for those retail stores and then there's all the other types of data where there is like employment prediction. there people are scraping the websites of companies
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posting and if a lot of companies are posting jobs it shows that their companies potentially going to grow even higher and higher so it's all these types of alternative data that's that's being created and a lot of hedge funds are trying to take advantage of it right but infuse kind of like a crapshoot because you see cars in a parking lot but one of the conversion rates inside the store you see a lot of job postings how do you know they're not internally hiring interesting you know that but with the alternative data like utility bill payments and purchasing books from amazon is there a privacy issue here as well even satellite imaging. in terms of. there is also these terms of service agreements with the website and that's where they get it ok i know where you're going. understand what do you see more companies actually marketing themselves. as using this as a feature more and more because you know it seems like there was a time when something like this was perceived maybe negatively like that people
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there aren't good enough to analyze this and bring in the information themselves but a lot of times we see out there are these these companies talk about the consistency of their automated data do you see this trend increasing. so i mean a lot of these companies now they're just trying to create their own and so that's why i mentioned like previously they're putting all these terms of service agreements they're just so one school when someone clicks agree they automatically can use all those three the and start selling those data to hedge funds or any companies just to generate additional revenues and i think right now in our in our time i think a lot of people are comfortable giving their information. on less it's like very very critical information of them might think twice but i think right now people are fine with clicking i agree so yes of these terms and service agreements right so browsing data versus equifax data before and the. do you see that there sort of
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a lot in interest you're talking about scraping these websites for. articles there's a lot of companies out there who hire copy writers to push out little articles that mean nothing even bots sometimes do you think that there's going to come a point when you're really going to have to look at this and say this information the money we're spending on it just isn't getting us anywhere a lot of this is fake information. so i mean right now we're tracking every single public pretty much like the popular news sites that. are speciality is actually tracking the entire internet so these are very local news and blocks and it's out there and so we're able to get these information ahead of time but the difficult the challenge here is that a lot of these blogs site or even on twitter anyone can post false information or fake news that's out there so we don't want to serve our. users with
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fake news and have them trade bill and dollars on it so this is why we created the reliability algo and this reliability elgood it basically identifies which twitter user or which blogs sites is actually reliable at releasing certain types of financial event based on historical analysis ok so you check out if it's legit or not real question before we go data like that as an eggcorn to some estimates about it at something like two hundred million dollars conservative you think it's going to go up but do you think oh yeah definitely so a lot of every single day we're having quantity of hedge funds come at us asking us for our data and they're willing to pay a lot of money for it so at the moment the call of this two hundred million dollars for the data market but i can see that tripling probably in the next year or so just because the data space is so hot right now and there's a lot of venture capital investment in fin techs pacifically data i can definitely see a tripling in about a year or so wow bring it on for that thank you so much for this very interesting information coup mash. our route moog on excuse me governor and c.e.o.
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of action that's a tough one thank you so much. yeah. well pricing is eighteen million dollars share offering at fourteen dollars per share stock video streaming gadget maker roku soared past twenty nine dollars by ten am today just one day after its debut on the nasdaq we saw a sixty eight percent jump on thursday alone roku closed that day at a peak of twenty three dollars fifty cents raising two hundred nineteen million dollars. this is a company known for its early development of successful streaming players that users watch netflix hulu and a very large swath of growing streaming video options on their t.v.'s it has the biggest share of the streaming gadget market still it's up against deep pocketed
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competitors like amazon google and apple most of rocas revenue comes from sales of those streaming players but the company is seeking to capitalize on its platform by building its business of showing ads to users whether it's on the home screens of people in their homes or inside video apps the los gatos california based company had three hundred ninety eight point six million dollars in revenue last year up twenty five percent from the year before. but the company did have debt in the millions this looks set to change very soon. time now for a quick break stick around though when we get back said negotiators say that if we want to hear updates on the topic of trade in divorce talk anytime soon we'd better start praying and it's the fiftieth anniversary of the start of operations as canada's oil sands celebrate this big anniversary we take a look at what the future holds for the powerful storm may be an entry we go to
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break here of the numbers. you. see you know you thanks. to. my do you insist on time you. could introduce you. to most drugs seem to. tomatoes you. yeah there's a big good. for you nobody wants the people. to be. very. close.
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most times the government knows what they do and they do nothing. kind of financial for long johns today with the money laundering first visit this confession to three different. oh good this is a good start well we have our three banks all set up here maybe something in your something in america something overseas or the cayman islands or do all of these banks are complicit in their kleptocracy to softer didn't phone and say hey i'm ready to do some serious wounds ok let's see how we did well we've got a nice luxury watch for max and for stacy oh beautiful jewelry and how about. luxury on a bill for a match you know what money laundering is highly illegal. much keyser of course.
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economic development is all about numbers really pleased to report this quarter we earn one hundred six point. but what do we know about the other figures. when i think about the fact that our c.e.o. mike du made over twenty million dollars last year more than one thousand times the average wal-mart a says c.n.n. with all due respect i have to say i don't think that's right. it is not just you know a free market would. people went from pretty simple financial lives pre nine thousand. to the point now where people are. just totally submerged in their financial accounts and they're all in debt and what exactly do. the part of the government try to do. my work.
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the. work. goes. leaders from the u.k. and the e.u. ended another round of talks this week with the same result yet again we still don't know what drugs that negotiations will look like or what we should expect and its aftermath to talk more about this we're joined now by. bianca what did both sides have to say about these latest talks well both sides have acknowledged that they've made some progress which is good but they were maine's very skeptical about how far they can get after the u.k. leaves next month leaders from each nation will meet and discuss how much progress
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has been made in bricks and negotiations and on thursday commission president john cloud younker gave some insight into his thoughts on where they're headed. to be through such. a moment on this. because with the. younger did say that they've made some headway in u.k. prime minister theresa may said she was pleased with the way discussions are going but beyond the details of the u.k.'s exit sorting out other key issues like trade or a whole other the irish prime minister leo varadkar told reporters. is that on that front there's much more work to be done. i think i'm right that there's definitely a better value than a better mood coming out of the negotiations between michel barnier and david davis but i think it's still very evidence that. there's more work to be done we're not yet stage so we can say that such progress being made to talk about the
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relationship of trade and. i believe it will to make that call until until much later in the month. based on those comments it remains unclear if leaders will actually be able to discuss trade after the october meeting in fact trade talks could be pushed back to december or even next year earlier this week michel barnier who acts as the negotiator said we could see a stalemate until the u.k. agrees to honor all e.u. financial commitments but leaders do have a few weeks left to change their minds and perspectives on how to approach next month's meeting. the perspectives i mean british prime minister theresa may try to reset the tone on bret's that talks in italy last week any success there whatsoever well so she was in florence a week before this week's talks right so she was really there to sort of talk up the talks and during her speech she really tried to make it seem like the u.k.
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was you know in this for both sides she wants to make it easy for both sides they don't want to pick any fights you know they just want this to be an easy transition but one of the more significant comments she made during that speech was basically hinting that the u.k. might walk back on their demands about basically taking the european court of justice out of the. big statement during the transition and even after the u.k. leaves so again this is not in writing but she made it seem like that would be up for negotiation does anyone actually believe that see you i know you and i don't really know we don't really you know immediately after so many you leaders really will wait until we see it in writing but chancellor merkel of germany was just reelected said that she saw that as a very positive development and said that we should take it as a constructive movement in the whole books that talk negotiations so again once we see it in writing i think would really move mountains but right now you
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know considering younkers comments which were also less positive you know he's saying we need america for all and that to get yes he was very honest about how he feels about talks. but until we see it in writing he was candid merkel is an excellent diplomat national see u.k. economy though there's been major changes since the vote last year the need to be addressed so the u.k. economy has had its ups and downs since but it didn't exactly react the way that many antibiotics it activists expected i mean in two thousand and sixteen was when the vote happened and from the vote and throughout the rest of the year there are pretty well you know was an apostle little pretty well yeah it held well that's a better way of putting it in twenty seventeen is when they started seeing slower growth and you know for several different industries were hit especially when we learned that some countries or excuse me some companies were thinking of leaving the u.k. and putting their headquarters elsewhere in the e.u. and we saw the competition for finance capital and so on but to circle back to to
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trade for a second. we saw with the boeing deal that was basically may's first lesson learned about dealing with trade issues without having the backing of the rest of the e.u. in fact that's how a lot of other e.u. leaders referred to that they said take this as your first lesson in learning how to deal with an international trade problem without us so you know it's one thing if one industry is impacted or not there but trade is really really the biggest deal here and i think that's why we saw theresa may in that speech last week say you know maybe there's maybe we can negotiate on things that would impact trade because that's really the crux of what's you know their economy and what could really hurt them in the short term and the long. thank you so much for that.
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according to the world economic forum's twenty seventeen twenty eight hundred competitiveness report switzerland is on top as the world's most competitive economy. forum bases its rankings on dozens of drivers such as trust in politicians property rights and rule of law just to name a few and also gathers the opinions of some pretty high powered business leaders who say that the swiss mix of infrastructure institutions and education pushes it to the top but what shoots through the roof is how the nation uses that mix to boost talent however according to the report the nation is at risk of complacency its aging population could undermine innovation there beside switzerland. united states remains in second place followed by singapore the netherlands and then germany the report though has a dire warning for us regarding artificial intelligence saying that global economies are ill prepared as it says for the coming wave of ai to take over.
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and fifty years ago if the first major commercial operation opened its doors in canada's oil sands at the time many thought it was a losing gamble and it took decades to shake off that reputation well today the oil sands are one of the world's top producers of fossil fuels as well as one of the most controversial areas for oil extraction also known as the tar sands there is no doubt that the resource sources found here have brought great wealth to canada and the province specifically of alberta the question is how long will this good fortune last are highly which is in toronto with the story on this alex it's been half a century since a canadian oil sands entered the world stage tell us a little bit about the evolution of this resource. i think back to nine hundred sixty seven when everything was black in a way and you got this guy the premier ernest manning. flew up with a guy named john howard a few from the pew i should say they flew up to fort mcmurray with
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a whole delegation of oil execs accept and speak in front of six hundred people because they just built the biggest facility of its kind in alberta to extract oil now the company those sun oil which pugh was the chairman of they're based out of philadelphia there was one of the the biggest companies around at that time especially got into this game knowing that there was a big risk in alongside them one hundred thousand albertans invested also at fifteen hundred dollars a pop in bonds so people were going all in thinking that this is the future of alberta and to a point they were right but it took a long time to get there there were many difficulties including just the whole fact of the facilities not. being able to work where they work here's a map did said just to show you i mean this is far north comparatively speaking when you have you know edmonton and calgary further south this was sort of a no man's land and you know you have the challenges of first of all getting the bitchin man out of the sand so they have it was the whole process of trying to
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extract this and to make this tar into actually or oil that you can use it automobiles except off so that was what part of the challenge the other part of the challenge was what do you do with all this waste that was coming out of there so you know the both sides of the things weren't really going that well you saw the opec crisis and it happened in the seventy's and canada was you know all and they were thinking pierre trudeau who is the prime minister at the time said you know we need to keep this thing going some companies were pulling out while the canadian government went in investing about fifteen percent ten percent the government ten percent the alberta government but much of this was nationalized in the sense that because they knew it was a make it or break it thing for canada in the sense that canada didn't want to be reliant on somebody else's oil so up till the one nine hundred ninety s. very iffy and then we saw things kick in and here's a bit of a graph to show you where canada stand so venezuela saudi arabia canada those are the three big reserves in the world today are the proved proven reserves and
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obviously canada is a big player in that game well what does the future hold for the oil sands is it all roses or what. well you know some will tell you roy rosa's of the those that's going to be coming from the oil industry of course the car others will say that not so much i mean obviously billions of the been invested in two thousand and eighteen they want to be able to pump three million barrels a day or they want to double that because that's what about what we're doing right now those three million barrels is about three point two million going out a day three million of those go to the states that's our biggest market we were your bigger biggest supplier of oil so they want to double that by the end of next year and then they want to increase that even more by two thousand. that and thirty eight double that so you know when you're looking at these numbers. saying well we're all in we've invested billions of dollars in this we're thinking of sticking around some core saying that's actually a company that came out of back from pews days they're saying we're in this for the
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next hundred to two hundred years well reality might say something very different because there's things like electric cars now and consumers don't really want to be a part of this oil mess a lot of people are thinking you know it's time to pull out of that so alberta can keep pushing doesn't mean you're going to get too far especially when people are going to other resources and then there's problems environmentally speaking i mean everything from the tailing ponds the tailing ponds are where this water goes this awful water that's full of all kinds of waste and it's talk sick and let me just give a name you just threw you off a couple of numbers that's it's eighty five square miles that have been collected of this stuff since the past fifty years that's about two hundred twenty square kilometers three hundred seventeen billion gallons of this contaminated water one point two trillion leaders that's a lot of water so that's a huge part of that and of course greenhouse gases the canadian government saying by two thousand and thirty that greenhouse gases if they continue with the plant will double so i say good luck oil industry. in my case good riddance if it really
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does happen because we can move on to better things and canada ready for it this is called well not failed without oil well it's true and no economy in the world champ to fail without oil specially now as you say with the green energy and those environmental activists had to have a very strong voice in canada thank you so much for this alex how about you coming out us from toronto. thank you. star trek called it the final frontier it's space and you on moscow set a timeline to colonize it but he's in a race with a few others the space obsessed mosque is hoping to launch his first mars mission in two thousand and twenty two hauling cargo followed by a second manned mission in two thousand and twenty four if it goes according to plan mosque will beat out nasa is own mars mission by a good ten years but there is a space race here with fellow americans amazon's founder jeff bezos has his blue origin space adventure working on a space vehicle also aiming to go to mars even lockheed martin it's announced its
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own separate plans to mars complete with an orbiting space station and landing craft thanks for watching be sure to catch on directv you can find us on the r t channel three two one and if you missed us on directv be sure to catch us on youtube youtube dot com slash. thanks for watching see you next time. just. because they can get a little. more than you but i you. know both do well but i get sort. of this yes or no but if you dump a lot of interest here.
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where they boo you go get a good area for immigrants it's. never really know for sure but this is been a very. yeah. well when i sort of know if. i let live. i live. it up.
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i learned. it's taken these children's homes. now it's ready to take their future. the volcano here could erupt again at any time. most people have a stark choice. to live in poverty. what's going to. put some a following a different. place it's. the same consumer we. employ live at home for
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a that's a lot. of the season . to stockpile local schools to prevent. anish police from closing down polling stations with the region poised to vote in an independence referendum deemed illegal by a majority and. tech giant takes center stage in the alleged russian meddling scandal with google now joining facebook and twitter in declaring it will testify to congress of the hunt for signs of supposedly outside interference that intensifies in the american media.

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